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Workflow Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview 2022-2027:

The global workflow management system market reached a value of US$ 9.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2027, exhibiting a CAGR of 3.13% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Workforce management (WFM) refers to a collection of tools and processes that enables an organization to monitor and centralize the data for their human resource utilization. It includes various performance-based software and tools to enhance the efficiencies of front-line supervisors, corporate management, managers and workers across the organization. It can perform multiple functions, such as workforce forecast and scheduling, HR management and workforce analysis. It can also create customized workflows that enhance overall productivity and make decision-making more efficient. Owing to this, it finds extensive applications across various industries, including banking, financial services, and insurance (BFSI), healthcare, transportation and logistics, energy, retail and information technology (IT) and telecom.

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The growing need for automation across industries, along with the increasing adoption of cloud-based solutions, represents one of the key factors driving the growth of the market. With an increasing focus on workforce optimization, organizations are extensively employing WFM solutions to manage time and avoid duplication of tasks. Furthermore, cloud-based solutions minimize the requirements for physical hardware, which is also boosting the adoption of these solutions in organizations. The platform also reduces the overall operational costs and enhances the scalability of the infrastructure by providing access to various endpoints. Additionally, increasing penetration of smartphones, along with the prevailing trend of Bring-Your-Own-Devices (BYOD), is also creating a positive impact on the market growth. With the deployment of WFM solutions, the employer can track the progress on tasks at any point of time while providing the employees with secure access to official files. Other factors, including rapid urbanization, especially in developing economies, rising awareness about the benefits of WFM, and extensive research and development (R&D) activities in the field of IT, are expected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global workflow management system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment type and vertical.

Breakup by Component:

 

 
 

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  • Software
  • Services
     

Breakup by Deployment Type:

  • Cloud-Based
  • On-Premises
     

Breakup by Vertical:

  • BFSI
  • Healthcare
  • Energy
  • Retail
  • IT and Telecom
  • Transportation and Logistics
  • Education
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Appian Corporation Inc., Bizagi Group Limited, IBM Corporation, Newgen Software Technologies Ltd, Nintex Global Ltd., Oracle Corporation, Pegasystems Inc., Software AG, and Xerox Holdings Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Deployment Type, Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Appian Corporation Inc., Bizagi Group Limited, IBM Corporation, Newgen Software Technologies Ltd, Nintex Global Ltd., Oracle Corporation, Pegasystems Inc., Software AG, and Xerox Holdings Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1   Overview
    4.2   Key Industry Trends
5   Global Workflow Management System Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6    Market Breakup by Component
     6.1   Software
        6.1.1  Market Trends
        6.1.2  Market Forecast
     6.2   Services
        6.2.1  Market Trends
        6.2.2  Market Forecast
7    Market Breakup by Deployment Type
     7.1   Cloud-Based
        7.1.1  Market Trends
        7.1.2  Market Forecast
     7.2   On-Premises
        7.2.1  Market Trends
        7.2.2  Market Forecast
8    Market Breakup by Vertical
     8.1   BFSI
        8.1.1  Market Trends
        8.1.2  Market Forecast
     8.2   Healthcare
        8.2.1  Market Trends
        8.2.2  Market Forecast
     8.3   Energy
        8.3.1  Market Trends
        8.3.2  Market Forecast
     8.4   Retail
        8.4.1  Market Trends
        8.4.2  Market Forecast
     8.5   IT and Telecom
        8.5.1  Market Trends
        8.5.2  Market Forecast
     8.6   Transportation and Logistics
        8.6.1  Market Trends
        8.6.2  Market Forecast
     8.7   Education
        8.7.1  Market Trends
        8.7.2  Market Forecast
     8.8   Others
        8.8.1  Market Trends
        8.8.2  Market Forecast
9    Market Breakup by Region
     9.1   North America
          9.1.1   United States
               9.1.1.1  Market Trends
               9.1.1.2  Market Forecast
          9.1.2   Canada
               9.1.2.1  Market Trends
               9.1.2.2  Market Forecast
     9.2   Asia-Pacific
          9.2.1   China
               9.2.1.1  Market Trends
               9.2.1.2  Market Forecast
          9.2.2   Japan
               9.2.2.1  Market Trends
               9.2.2.2  Market Forecast
          9.2.3   India
               9.2.3.1  Market Trends
               9.2.3.2  Market Forecast
          9.2.4   South Korea
               9.2.4.1  Market Trends
               9.2.4.2  Market Forecast
          9.2.5   Australia
               9.2.5.1  Market Trends
               9.2.5.2  Market Forecast
          9.2.6   Indonesia
               9.2.6.1  Market Trends
               9.2.6.2  Market Forecast
          9.2.7   Others
               9.2.7.1  Market Trends
               9.2.7.2  Market Forecast
     9.3   Europe
          9.3.1   Germany
               9.3.1.1  Market Trends
               9.3.1.2  Market Forecast
          9.3.2   France
               9.3.2.1  Market Trends
               9.3.2.2  Market Forecast
          9.3.3   United Kingdom
               9.3.3.1  Market Trends
               9.3.3.2  Market Forecast
          9.3.4   Italy
               9.3.4.1  Market Trends
               9.3.4.2  Market Forecast
          9.3.5   Spain
               9.3.5.1  Market Trends
               9.3.5.2  Market Forecast
          9.3.6   Russia
               9.3.6.1  Market Trends
               9.3.6.2  Market Forecast
          9.3.7   Others
               9.3.7.1  Market Trends
               9.3.7.2  Market Forecast
     9.4   Latin America
          9.4.1   Brazil
               9.4.1.1  Market Trends
               9.4.1.2  Market Forecast
          9.4.2   Mexico
               9.4.2.1  Market Trends
               9.4.2.2  Market Forecast
          9.4.3   Others
               9.4.3.1  Market Trends
               9.4.3.2  Market Forecast
     9.5   Middle East and Africa
          9.5.1  Market Trends
          9.5.2  Market Breakup by Country
          9.5.3  Market Forecast
10  SWOT Analysis
    10.1   Overview
    10.2   Strengths
    10.3   Weaknesses
    10.4   Opportunities
    10.5   Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1   Overview
    12.2   Bargaining Power of Buyers
    12.3   Bargaining Power of Suppliers
    12.4   Degree of Competition
    12.5   Threat of New Entrants
    12.6   Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1   Market Structure
    14.2   Key Players
    14.3   Profiles of Key Players
         14.3.1   Appian Corporation Inc.
              14.3.1.1   Company Overview
              14.3.1.2   Product Portfolio
              14.3.1.3   Financials
         14.3.2   Bizagi Group Limited
              14.3.2.1   Company Overview
              14.3.2.2   Product Portfolio
              14.3.2.3   Financials
         14.3.3   IBM Corporation
              14.3.3.1   Company Overview
              14.3.3.2   Product Portfolio
              14.3.3.3   Financials
              14.3.3.4   SWOT Analysis
         14.3.4   Newgen Software Technologies Ltd
              14.3.4.1   Company Overview
              14.3.4.2   Product Portfolio
              14.3.4.3   Financials
         14.3.5   Nintex Global Ltd
              14.3.5.1   Company Overview
              14.3.5.2   Product Portfolio
              14.3.5.3   Financials
         14.3.6   Oracle Corporation
              14.3.6.1   Company Overview
              14.3.6.2   Product Portfolio
              14.3.6.3   Financials
              14.3.6.4   SWOT Analysis
         14.3.7   Pegasystems Inc.
              14.3.7.1   Company Overview
              14.3.7.2   Product Portfolio
              14.3.7.3   Financials
              14.3.7.4   SWOT Analysis
         14.3.8   Software AG
              14.3.8.1   Company Overview
              14.3.8.2   Product Portfolio
              14.3.8.3   Financials
         14.3.9   Xerox Holdings Corporation
              14.3.9.1   Company Overview
              14.3.9.2   Product Portfolio
              14.3.9.3   Financials
              14.3.9.4   SWOT Analysis

List of Figures

Figure 1: Global: Workflow Management System Market: Major Drivers and Challenges
Figure 2: Global: Workflow Management System Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Workflow Management System Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Workflow Management System Market: Breakup by Component (in %), 2021
Figure 5: Global: Workflow Management System Market: Breakup by Deployment Type (in %), 2021
Figure 6: Global: Workflow Management System Market: Breakup by Vertical (in %), 2021
Figure 7: Global: Workflow Management System Market: Breakup by Region (in %), 2021
Figure 8: Global: Workflow Management System (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Workflow Management System (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Workflow Management System (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Workflow Management System (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Workflow Management System (Cloud-Based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Workflow Management System (Cloud-Based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Workflow Management System (On-Premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Workflow Management System (On-Premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Workflow Management System (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Workflow Management System (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Workflow Management System (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Workflow Management System (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Workflow Management System (Energy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Workflow Management System (Energy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Workflow Management System (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Workflow Management System (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Workflow Management System (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Workflow Management System (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Workflow Management System (Transportation and Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Workflow Management System (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Workflow Management System (Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Workflow Management System (Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Workflow Management System (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Workflow Management System (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia-Pacific: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: China: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Workflow Management System Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Workflow Management System Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: Workflow Management System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: Workflow Management System Industry: SWOT Analysis
Figure 82: Global: Workflow Management System Industry: Value Chain Analysis
Figure 83: Global: Workflow Management System Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Workflow Management System Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Workflow Management System Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Workflow Management System Market Forecast: Breakup by Deployment Type (in Million US$), 2022-2027
Table 4: Global: Workflow Management System Market Forecast: Breakup by Vertical (in Million US$), 2022-2027
Table 5: Global: Workflow Management System Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Workflow Management System Market: Competitive Structure
Table 7: Global: Workflow Management System Market: Key Players


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Key Questions Answered in This Report

The global workflow management system market was valued at US$ 9.1 Billion in 2021.

We expect the global workflow management system market to exhibit a CAGR of 3.13% during 2022-
2027.

The emerging popularity of cloud-based solutions, coupled with the increasing focus towards workforce
optimization to manage time and avoid duplication of task for enhanced overall productivity, is primarily
driving the global workflow management system market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of remote working model
across several organizations resulting in the increasing demand for workflow management system to
keep a track on the progress of the tasks, while providing the employees with secure access to official
files.

Based on the component, the global workflow management system market can be segmented into
software and services. Currently, software holds the majority of the total market share.

Based on the deployment type, the global workflow management system market has been divided into
cloud-based and on-premises, where cloud-based deployment currently exhibits a clear dominance in
the market.

Based on the vertical, the global workflow management system market can be categorized into BFSI,
healthcare, energy, retail, IT and telecom, transportation and logistics, education, and others. Among
these, the BFSI sector accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global workflow management system market include Appian
Corporation Inc., Bizagi Group Limited, IBM Corporation, Newgen Software Technologies Ltd, Nintex
Global Ltd., Oracle Corporation, Pegasystems Inc., Software AG, and Xerox Holdings Corporation.

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